Publisher's copyright statement: c 2011 IEEE. Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE. Additional information:Use policyThe full-text may be used and/or reproduced, and given to third parties in any format or medium, without prior permission or charge, for personal research or study, educational, or not-for-prot purposes provided that:• a full bibliographic reference is made to the original source • a link is made to the metadata record in DRO • the full-text is not changed in any way The full-text must not be sold in any format or medium without the formal permission of the copyright holders.Please consult the full DRO policy for further details. The capacity value of a generator is the contribution that a given generator makes to generation system adequacy. The variable and stochastic nature of wind sets it apart from conventional energy sources. As a result, the modeling of wind generation in the same manner as conventional generation for capacity value calculations is inappropriate. In this paper a preferred method for calculation of the capacity value of wind is described and a discussion of the pertinent issues surrounding it is given. Approximate methods for the calculation are also described with their limitations highlighted. The outcome of recent wind capacity value analyses in Europe and North America, along with some new analysis are highlighted with a discussion of relevant issues also given.Index Terms--Wind power, capacity value, effective load carrying capability, power system operation and planning

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